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Directors of CaixaBank, Bankia approve merger

Christian Fernsby ▼ | September 18, 2020
The Boards of Directors of CaixaBank and Bankia have approved the plan for the merger by absorption of Bankia by CaixaBank.
Bankia   CaixaBank
Once the due diligence process has been completed by both entities, and the plan for the merger by absorption has been approved by both Boards of Directors, the next step requires both Boards’ approval of the merger reports, as well as the calls for the General Shareholders' Meetings, which are scheduled to take place in November.

Topics: CaixaBank Bankia

The operation is expected to close during the first quarter of 2021, once all the relevant regulatory authorisations are received from the Ministry of Economic Affairs and Digital Transformation, the National Commission of Markets and Competition, as well as non-opposition confirmed from the Directorate-General for Insurance and Pension Funds, the Spanish Securities and Stock Exchange Commission (CNMV) and the Bank of Spain for CaixaBank’s acquisition of significant holdings in a company subject to their supervision.